Question
Pfizer Inc. Financial Data for 2022: Profit & Loss Statement: Item Amount Revenue $38,000,000 Cost of Goods Sold $24,700,000 Operating Expenses $8,000,000 (Including Depreciation: $750,000)
Pfizer Inc. Financial Data for 2022:
Profit & Loss Statement:
Item | Amount |
Revenue | $38,000,000 |
Cost of Goods Sold | $24,700,000 |
Operating Expenses | $8,000,000 (Including Depreciation: $750,000) |
Interest Expense | $200,000 |
Gain on Sale of Equipment | $175,000 |
Income Tax Expense | $400,000 |
Balance Sheet:
Item | 12/31/2022 | 12/31/2021 |
Cash | $5,000,000 | $3,500,000 |
Accounts Receivable | $1,000,000 | $950,000 |
Inventory | $2,000,000 | $1,850,000 |
Accounts Payable | $1,100,000 | $1,050,000 |
Additional Information:
Equipment sold for $700,000 (original cost $900,000, carrying value $570,000).
New equipment purchased for $650,000.
Dividends declared and paid: $850,000.
Treasury shares purchased: 6,000 shares for $600,000.
Requirements:
Compute cash flows from operating activities.
Compute cash flows from investing activities.
Compute cash flows from financing activities.
Determine the ending cash balance.
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